Kartik Investments Trust Ltd

Kartik Investments Trust Ltd

Kartik Investments Trusts Ltd. is a public limited company incorporated on 25 January 1978 in Chennai. The company has only one class of shares - equity shares of par value Rs.10/- each. The authorised share capital of the Company is Rs. 1 crore and subscribed and paid up share capital of the company is Rs. 24.40 lakhs divided into 244000 shares of Rs.10/- each. The company's investments include Rs. 20.27 crores in Equity Shares and Rs. 46 lakhs in bank fixed deposits as on 31 March 2019.During the year 2017 M/s. Chola Business Services Limited one of the members of promoter and promoter group of the company had expressed its intention to Board of Directors to acquire up to 61450 equity shares held by the public shareholders representing 25.18% of total equity share capital of company by providing an exit opportunity through a voluntary delisting offer in accordance with Chapter VII of Delisting Regulations in order to delist equity shares from BSE. The acquirer in consultation with Merchant Banker to Offer have considered an exit price as Rs.72/- per equity share of face value of Rs.10/- as per regulation 27(3) of Delisting Regulations. The company therefore obtained the approval as required under regulation 8(l)(b) of SEBI (Delisting of Equity Shares) Regulations 2009 by way of a special resolution passed through postal ballot. Further an application has been submitted with BSE Ltd for voluntarily de-listing the shares of the company and the same is pending.